After falling below the $40,000 mark this morning, Bitcoin (BTC) accelerated its decline this afternoon and further fell below $39,000. In just 1 hour, the entire network contract in the cryptocurrency market exceeded 110 million. USD, of which as high as USD 107 million is the liquidation of long positions. Before the market fell sharply, anonymous analyst PlanB shared a moving picture of the tsunami and marked “Bitcoin”, which seemed to imply that the big tsunami of Bitcoin was coming. (Recap:Bitcoin fell below 40,000 magnesium, and ether fell below 3,000; Goldman Sachs: The probability of US economic recession in the next 2 years is 35%, rich dad author calls to buy BTC again)
The cryptocurrency market is weak. After falling below the $40,000 mark this morning, Bitcoin (BTC) accelerated its decline this afternoon, further falling below $39,000, hitting a minimum of $38,536, and recovering slightly to $38,958.85 by the time of writing , a drop of 3.26% in the past 24 hours.
As Bitcoin fell further, the cryptocurrency market also accelerated its losses. According to Coinmarketcap data, ether (ETH) fell more than 4% to $2,919, while major currencies such as Solana (SOL), Cardano (ADA), Terra (LUNA) fell between 5% and 7%.
The liquidation amount exceeded 100 million US dollars in 1 hour
According to CoinGlass data, in the past 24 hours, the total liquidation of cryptocurrency contracts on the entire network reached US$225 million, of which Bitcoin liquidation reached US$64.42 million, ranking first, followed by Ether (ETH), which was liquidated in the amount of liquidation. At $46.34 million, Terra ranked third with a liquidation of $7.73 million.
When Bitcoin accelerated its decline from 12:00 to 13:00 today and fell below US$39,000, the liquidation of contracts in the cryptocurrency market in the past one hour exceeded US$110 million, of which the liquidation of long orders amounted to 107 million USD, the amount of short-order liquidation was only USD 3.9 million.
Negentropic, the co-founder of the on-chain data analysis platform Glassnode, shared the chart on Twitter and pointed out that the current Bitcoin trend is driven by exogenous factors. Although the fundamentals are strong, the Bitcoin perpetual contract market is under great selling pressure. The risk signal indicator for is above the high risk level.
Plan B predicts tsunami before crash
It is worth noting that before the collapse of the cryptocurrency market, PlanB, an anonymous analyst known for proposing the S2F (Stock to Flow) model to predict the price of Bitcoin, shared a moving picture of the tsunami on Twitter on the 17th, and marked ” “Bitcoin”, seems to suggest that the big tsunami of Bitcoin is coming.
— PlanB (@100trillionUSD) April 17, 2022
However, PlanB predicted on the 15th that Bitcoin is unlikely to fall to $24,000:
Some are concerned that Bitcoin could fall to its realized price level of $24,500.However, there have been 3 such crashes recently due to (yellow circles): – 2018: BSV fork – 2014: Bitstamp exchange hacked – 2011: MtGox exchange hacked
Haven’t seen this happening now.
Some people are afraid BTC might drop to Realized Price level of $24.5K. However, last 3 times such a capitulation happened, the cause was (yellow circles):– 2018: BSV FORK– 2014: Bitstamp exchange HACK– 2011: MtGox exchange HACK
Not seeing that now. pic.twitter.com/pdrkChrUOE
— PlanB (@100trillionUSD) April 15, 2022
Short-term pessimism about Bitcoin, the weekly implied volatility hit a new low in nearly a year; LFG added another 4.9 million magnesium BTC
CEO of MicroStrategy: Bitcoin is definitely worth $1 million; shareholder letter calls for “vigorously pursue overweight BTC”
Ark Fund Report | Tesla’s stock price in 2026 “looks at $4,600”, saying that Bitcoin holdings will drive a rise of only 5%
Make the Telegram news channel of the dynamic zone powerful again! ! Join now to get first-hand blockchain, cryptocurrency news coverage.
LINE and Messenger serve you from time to time